Golden Rules of Financial Safety

January 27th, 2011 Living Off Dividends Posted in Investing, personal finance | No Comments »

Some of the best advice is timeless. Here’re some nuggets of wisdom from the late Harry Browne.

Your career provides your wealth
Don’t assume you can replace your wealth
Recognise the difference between investing and speculating & speculate only with money you can afford to lose
No one can predict the future
No one can move you in and and of investments consistently with precise and profitable timing
No trading system will work as well in the future as it did in the past
Don’t use leverage
Don’t let anyone make your decisions
Don’t ever do anything you don’t understand
Don’t depend on any one investment, institution or person for your safety
Create a bulletproof portfolio for protection
Keep some assets outside the country in which you live
Beware of tax-avoidance schemes
When in doubt, err on the side of safety

These topics are covered in the timeless classic – Fail-safe Investing, probably the best $10 you’ll spend on personal finance and investing!

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LIVING OFF DIVIDENDS & PASSIVE INCOME